BTC Tests $80,000 Support Amid Pre-NFP Market Caution

Huo Xing Finance reports that on May 9, market focus has fully shifted to tonight’s release of the U.S. April non-farm payroll data. Market expectations forecast an addition of 62,000 non-farm jobs, significantly lower than the prior figure of 178,000, indicating that the U.S. labor market is gradually cooling. However, the latest ADP “small non-farm” report showed an addition of 109,000 jobs, exceeding expectations, prompting markets to reassess whether labor market resilience still persists. Currently, the market is less concerned about an immediate economic recession and more focused on whether the “low hiring, low layoff” structure will continue. If unemployment remains low and wage growth retains its stickiness, the Federal Reserve will have greater room to maintain high interest rates for an extended period. Recently, Fed officials including Harker and Collins have consistently signaled a bias toward holding rates steady. On the geopolitical front, although tensions flared again in the Strait of Hormuz between the U.S. and Iran, both sides continue to preserve room for negotiations. The U.S. has emphasized it has no intention of escalating the situation, and Middle Eastern media have reported that the U.S. and Iran have reached consensus on certain maritime blockade issues, temporarily easing concerns over a full-scale conflict. Oil prices have retreated to around $95, but gasoline prices within the U.S. remain elevated, indicating that energy inflationary pressures have not yet been fully resolved. In the crypto market, BTC fell below $80,000 yesterday. According to the liquidation heatmap, substantial liquidity exists at $78,000; a break below this level could trigger further liquidations. However, dense short liquidity also accumulates between $82,000 and $83,000, suggesting that the short-term market remains in clear tug-of-war between bulls and bears.